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Our 40 plus year old apartment building has large sliding aluminium framed glass doors leading onto balconies and aluminium framed glass windows. The rollers frequently fail and it sounds like a steam train passing through the building when they are opened or closed (not good at 2 am when a neighbor wants to sneak a late night cigarette). The doors and windows leak water into the apartment when it rains. The aluminium is pock marked with cancer, the powder coating has faded and the glass doesn’t meet safety standards (break into large heavy shards when glass is broken). My concern is the owners corporation have no allowance or a savings plan to eventually replace the windows and doors even though they have passed their usable life span already. Hell, we don’t even have an adopted ten year sinking fund plan. I estimate the cost for refurbishment will be 300 to 400 K. What should I do?
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Well there isn’t all that many options. The OC simply have to repair and maintain common property as per s62 of the SSMA. If you don’t have a sinking fund plan there isn’t much that can be done about that now in hindsight (apart from starting a 10 year fund plan).
However if you don’t have enough money in either the sinking or admin fund and the repairs need to be done ASAP, then you will need to call a general meeting to raise a special levy to cover the costs of the repairs. However before you raise the special levy, it would be a good idea to get at least 3 quotes to put forward on the agenda of the general meeting and have the OC decide which quote to accept.
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